Flutter Entertainment plc (NYSE:FLUT) Sees Significant Increase in Short Interest

Flutter Entertainment plc (NYSE:FLUT) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,110,000 shares, an increase of 11.1% from the August 15th total of 1,900,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 1.3 days. Approximately 1.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of Flutter Entertainment in the first quarter worth approximately $28,000. Assenagon Asset Management S.A. grew its position in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment in the second quarter valued at $40,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Flutter Entertainment in the first quarter worth $45,000.

Flutter Entertainment Stock Performance

Shares of FLUT traded down $0.34 during mid-day trading on Wednesday, hitting $230.21. The company’s stock had a trading volume of 1,041,589 shares, compared to its average volume of 894,482. The firm has a 50-day moving average price of $204.55 and a 200 day moving average price of $199.99. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $232.05.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Equities research analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several recent analyst reports. Oppenheimer lifted their target price on Flutter Entertainment from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. JMP Securities restated a “market outperform” rating and set a $255.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, BTIG Research upped their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $246.44.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.